Daily Market Comments - Wednesday 03 March 2010

[RTFX-Trading]

EUR-USD	It should test 1.3788 area after which a sell off down to 1.3492 or extended to 1.3370 area is expected.
USD-CHF	There are initial signs of a good corrective recovery towards 1.0819 or even 1.0844. Supports at 1.0746 and 1.0698 zone.
GBP-USD	It should try higher up to 1.4986 - 1.5030. Entry point 1.4942 or 1.4913. After this rise, a correction is expected.
USD-JPY	There is bearish potential for a fall to 88.71 - 88.48 while 88.93 - 89.12 resist. After this fall a recovery up to 89.12 or 89.30 is expected.
USD-CAD	Current fall is near an end of wave around 1.0295 zone, a rally should then procede to above 1.0429. Fall below 1.0236 would cancel this scenario.
NZD-USD	It is likely to fall towards 0.6942 - 0.6921 as its corrective rally could falter in 0.6983 - 0.7003 area. Stop above 0.7045 zone.
AUD-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 0.9049 or 0.9077 if support around 0.9018 hold. After which a pullback to 0.9018 - 0.8997 zone is possible.
EUR-JPY	It may attempt a test higher to 121.16 - 121.62 after which weakness may set it to a drift down to below 120.05 limit.
EUR-CHF	Our preferred outlook is for a drift down to 1.4620 or below 1.4606. Resistances are at 1.4634 and 1.4637. A rise above 1.4651 would delay but not abort this expected fall.
EUR-GBP	Current rise should end around 0.9125. Objectives of this downmove are 0.9041 or 0.8987. A rise above 0.9156 is again bullish.
EUR-CAD	It should try higher up to 1.4122 - 1.4171. Entry point 1.4072 or 1.4036. After this rise, a correction is expected.
EUR-NZD	It should trade higher to 1.9630 while 1.9496 or 1.9461 offers support. Stop loss below 1.9427 zone.
EUR-AUD	It should test 1.5136 area after which a sell off down to 1.4989 or extended to 1.4909 area is expected.
GBP-CHF	It may meet resistance in 1.6092 - 1.6131 zone for a drift down to 1.6035 zone, after which bounce to 1.6188 is anticipated.
GBP-JPY	It may meet resistance in 133.03 - 133.10 zone for a drift down to 132.43 zone, after which bounce to 133.69 is anticipated.
GBP-CAD	It may meet resistance in 1.5503 - 1.5506 zone for a drift down to 1.5388 zone, after which bounce to 1.5622 is anticipated.
GBP-AUD	It may meet resistance in 1.6570 - 1.6583 zone for a drift down to 1.6484 zone, after which bounce to 1.6669 is anticipated.
CAD-JPY	Should test support at 85.33 while below 85.81. If support at 85.33 holds it can rise up to 86.40, if not it should fall to below 84.85 zone.
NZD-JPY	No comment!
AUD-JPY	Preferred view is for a fall to 80.12 - 79.88 while 80.55 - 80.76 area resists. A clear break of 81.23 would be bullish.
XAG-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 17.11 or 17.22 if support around 16.78 hold. After which a pullback to 16.78 - 16.62 zone is possible.
XAU-USD	Uptrend is still intact in a triangle configuration. It should continue to rally to 1140.52 or 1143.38 if support around 1129.22 hold. After which a pullback to 1129.22 - 1124.90 zone is possible.

Trading Desk, RTFX Ltd
16th September SquareMosta, MST 1180Malta
Tel: +356 23 310 000 | Fax: +356 21 412 458

RTFX Ltd is licensed to conduct investment services business by the Malta Financial Services Authority. This information does not constitute an offer or solicitation and is provided for information purposes only. This information shall not be deemed to constitute advice and should not be relied on as such to enter into a transaction or for any investment decision. Any opinions expressed in this document represent the views of RTFX Ltd at the time of preparation. They are thus subject to change without notice. RTFX Ltd believes that the information contained herein is accurate as at the date of publication. However, no warranty of accuracy is given by RTFX Ltd and no liability in respect of any errors or omissions, including any third party liability, are accepted by RTFX Ltd or any director, officer or employees.